Tredje AP fonden Boosts Stock Position in Nordson Co. (NASDAQ:NDSN)

Tredje AP fonden increased its stake in shares of Nordson Co. (NASDAQ:NDSN) by 198.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,942 shares of the industrial products company’s stock after buying an additional 23,914 shares during the quarter. Tredje AP fonden owned about 0.06% of Nordson worth $8,336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Nordson in the 2nd quarter valued at approximately $27,000. Tortoise Investment Management LLC grew its position in Nordson by 70.7% in the second quarter. Tortoise Investment Management LLC now owns 140 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 58 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Nordson in the second quarter valued at $46,000. UMB Bank n.a. lifted its stake in shares of Nordson by 2,387.5% in the 2nd quarter. UMB Bank n.a. now owns 199 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 191 shares during the last quarter. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of Nordson by 11,450.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 231 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, DA Davidson dropped their target price on shares of Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $282.40.

Nordson Stock Up 0.2 %

Shares of NDSN opened at $255.61 on Thursday. The company’s 50-day simple moving average is $244.32 and its 200-day simple moving average is $249.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.52 and a current ratio of 2.36. Nordson Co. has a 1 year low of $208.91 and a 1 year high of $279.38. The stock has a market capitalization of $14.64 billion, a PE ratio of 30.47, a P/E/G ratio of 2.00 and a beta of 0.90.

Nordson (NASDAQ:NDSN) last released its earnings results on Wednesday, August 21st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.08. Nordson had a net margin of 17.75% and a return on equity of 19.80%. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $656.49 million. During the same period in the prior year, the business earned $2.35 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts forecast that Nordson Co. will post 9.55 earnings per share for the current fiscal year.

Nordson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Nordson’s previous quarterly dividend of $0.68. Nordson’s dividend payout ratio (DPR) is currently 37.19%.

Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.